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Department of Economic Development Organizes Export Finance Workshop

Sunday, November 21, 2010
The Department of Economic Development – Abu Dhabi is hosting a workshop to improve skills related to exports and business growth on November 23 in Abu Dhabi. The workshop is sponsored by the Department and the Ministry of Finance, ZonesCorp, National Bank of Abu Dhabi, HSBC, COFACE Emirates Services , and the Emirates Industrial Bank. More than 50 representatives of Abu Dhabi companies are expected to attend the “Export Finance Workshop.”  The workshop will focus on exports finance and insurance, legal issues, buyers’ credit check, and debt collection. These areas related to export finance will be discussed by experts from National Bank of Abu Dhabi, HSBC, COFACE and the international law firm Trowers Hamlins. Hamad Abdullah Al-Mas, Executive Director of International Economic Relations stated the reason for organizing this workshop, “It will shed light on all of the factors that companies must be aware of when making export finance decisions. This will allow companies to export more or to begin exporting.” He added, “Increasing private sector exports will contribute to achieving the Abu Dhabi Vision 2030 goal for the non-oil sector, contributing 60% of the emirate’s GDP.” Additionally, management at Abu Dhabi companies surveyed by the Department about export related issues identified the workshop’s topics as leading areas that more information is needed by them. Specifically, 72% identified export finance as a leading issue while 64% mentioned legal issues and 62% export insurance. Al Mas commented, “The main topics of the workshop are three that the management of Abu Dhabi companies have identified as important.” The workshop will include presentations and interactive panels of industry experts from sponsoring organizations. Al-Mas urges attendees to be active participants during the workshop, “Attendees are encouraged to be involved by asking questions of the panel and providing their opinion and experience for all to learn from.” Al-Mas noted that workshops such as this one is only part of the Department’s continuous efforts to realize the Abu Dhabi Vision 2030. The  Department’s International Economic Relations Sector provides support to companies in the Emirate of Abu Dhabi to participate at a range of events, including local and international trade exhibitions, conferences, as well as workshops and symposia; either independently or coordinating with other entities such as Chamber of Commerce, Ministry of Economy, Ministry of Foreign Trade and ZonesCorp.
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